🤯 $INIT is up ~3x in 3 days. $0.120 on Nov 8, $0.374 now.
The twist: Initia halted its L1 on Nov 10 after a ~$615K exploit through compromised rollup keys. Second halt in under 3 weeks.
Funding stayed negative while price ripped, so this looks like shorts getting squeezed, not buyers betting on fundamentals. I wouldn't chase a squeeze on a paused chain.
Would you short this top or stay away? NFA
#INIT #ShortSqueeze
The twist: Initia halted its L1 on Nov 10 after a ~$615K exploit through compromised rollup keys. Second halt in under 3 weeks.
Funding stayed negative while price ripped, so this looks like shorts getting squeezed, not buyers betting on fundamentals. I wouldn't chase a squeeze on a paused chain.
Would you short this top or stay away? NFA
#INIT #ShortSqueeze
